Prepay Commentary

October SBA Prepayment Speeds

October 15, 2018


Most vintages of both equipment and real estate SBA 7(a) pools posted slower speeds this month than for August and September. The overall prepayment pattern remained intact with seasoning ramps greatly outweighing all other factors. The aging of each calendar year’s population should push speeds gradually higher from January through December for the younger vintages, but this effect seems to have been overshadowed by the fact that September only had 19 business days, the least number of the last three calendar months. Please note that the linked tables now include 12 month moving averages as there are now thirteen months of available history subsequent to the principal distribution related procedural changes implemented last October.


SBA Prepayment Tables (Click for Details)

Prepared according to methodologies described by SIFMA.


James Plunkett

Director of Investment Product Strategies

Vining Sparks

Adam Hofer

Vining Sparks

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